D-Link 2004 Annual Report Download - page 53

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25
D-LINK CORPORATION AND SUBSIDIARIES
Notes to Consolidated Financial Statements
(Continued)
December 31,
2003 2004
Deferred tax assets—current:
Investment tax credits $ 163,460 80,929
Unrealized inter-company profits 117,491 155,311
Unrealized foreign exchange loss (gain), net (25,468) 11,931
Allowance for decline in value of inventories 162,376 134,029
Provision for doubtful accounts over statutory limitation 114,374 71,933
Allowance for maintenance service cost - 31,485
Others 11,728 9,914
543,961 495,532
Less: valuation allowance (212,531) (120,576)
Net current deferred tax assets $ 331,430 374,956
Deferred tax assets—noncurrent:
Investment tax credits 160,213 90,110
Loss carry forward 486,355 473,500
Accrued pension cost 63,388 14,675
Investment loss on long-term equity investments in foreign
entities
33,819 26,927
Others 404 16,063
744,179 621,275
Less: valuation allowance (688,571) (576,999)
55,608 44,276
Deferred tax liabilities—noncurrent:
Prepaid pension cost (25,005) (24,153)
Allowance for loss on foreign investments (41,304) (131,689)
Investment income on long-term equity investments in
foreign entities
(910)
-
Foreign currency translation adjustment (65,906) (50,274)
(133,125) (206,116)
N
et noncurrent deferred tax liabilities $ (77,517) (161,840)
Total deferred tax assets $ 1,313,608 1,116,807
Total deferred tax liabilities $ 158,593 206,116
Valuation allowance for deferred tax assets $ 901,102 697,575